EBRD credit line to Al­pha and Eurobank

The Euro­pean Bank or Re­con­struc­tion and De­vel­op­ment (EBRD) an­nounced on Mon­day the sup­ply of a credit line of 50 mil­lion euros to Greek len­ders Al­pha and Eurobank, aimed at pro­mot­ing in­ter­na­tional trade. The credit line, which forms part of the Trade Fa­cil­i­ta­tion Pro­gram of the EBRD, will help boost the trade fi­nance ac­tiv­i­ties of the two do­mes­tic banks in the face of the ad­verse con­di­tions in the lo­cal mar­ket, and bol­ster the EBRD’s cen­tral role as a part­ner of the Greek ex­port­ing and im­port­ing en­ter­prises. The EBRD has a small stake in both Greek len­ders, ob­tained dur­ing their re­cent share cap­i­tal in­creases.